Common use of PETRÓLEO BRASILEIRO S Clause in Contracts

PETRÓLEO BRASILEIRO S. A. – Petrobras (“Petrobras”) was a Brazilian state-owned and state-controlled oil company headquartered in Rio de Janeiro, Brazil, that operated to refine, produce and distribute oil, oil products, gas, biofuels and energy. The Brazilian government directly owned more than 50 percent of Petrobras’s common shares with voting rights. Petrobras was controlled by Brazil and performed government functions. Petrobras was an “instrumentality” of a foreign government, and Petrobras’s officers and employees were “foreign officials, as those terms are used in the FCPA, Title 15, United States Code, Sections 78dd- 2(h)(2)(A), 78dd-3(f)(2)(A).

PETRÓLEO BRASILEIRO S. A. – Petrobras (together with its subsidiaries and affiliates, “Petrobras”) was a Brazilian state-owned and state-controlled oil company headquartered in Rio de Janeiro, Brazil, that operated to refine, produce produce, and distribute oil, oil products, gas, biofuels and energy. The Brazilian government directly owned more than 50 percent of Petrobras’s common shares with voting rights. Petrobras was controlled by Brazil and performed government functions. Petrobras functions and was an “instrumentality” agency and instrumentality of a foreign government, and Petrobras’s officers and employees were “foreign officials, as those terms are used in the FCPA, Title 15, United States Code, Sections 78dd- 2(h)(2)(A), Section 78dd-3(f)(2)(A).